http://www.mlive.com/business/detroi..._be_demol.html
Quote:
PONTIAC, MI — The Pontiac Silverdome will be torn down in 2016.
According to a report from the Detroit Free Press, the owner of the 127-acre property the old home of the Detroit Lions sits on has decided to knock the stadium down to make the land easier to sell.
Over the summer, the stadium went up for sale for around $30 million. CBRE realtor Robert Mihelich told MLive, at the time, the number was flexible, though.
The current owner is Toronto-based Triple Properties, a development company run by Andreas Apostolopoulos and his son, Steve Apostolopoulos.
They purchased the Silverdome for $583,000 in 2009 — less than 1 percent of the initial $55.7 million it cost to build in 1975 — and are reneging on a commitment to redevelop the former Detroit Lions stadium.
A broker with CBRE told the Free Press on Thursday that "It is going to come down..."
The decision is dictated by feedback received while trying to sell the building.
The owners in February launched a design competition, soliciting redevelopment ideas from the general public. The contest deadline was April 12, and the winner who presented the best idea was scheduled to be announced in May or June, according to the contest website, which is still active.
The Silverdome property has a 2014 assessed market value of about $2.1 million, according to the Oakland County Assessor's Office.
Recently, it's only been crumbling.
The Free Press reports the Silverdome will begin going through the demolition process this spring.
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Kind of sad, really...the place where Joe Montana won his 1st Super Bowl and where WrestleMania III happened will soon be gone.
Probably not a shock though, given the way the building was treated since it closed to events.
